HONG KONG--(BUSINESS WIRE)--Tricor Group (Tricor), Asia’s leading provider of business, corporate, investor and debt administration services, has acquired Richful Deyong (RFDY), a Hong Kong-based provider of integrated corporate and business services, focused on supporting mainland Chinese companies in their international corporate activities.
RFDY’s network of 140 relationship managers across 12 major Chinese cities greatly enhances Tricor’s presence on the mainland, while also providing RFDY’s client base with access to Tricor’s best-in-class services across APAC. The combined Tricor and RFDY platform meets the growing needs of Chinese enterprises going abroad, with the most comprehensive suite of services available in the market.
Lennard Yong, Group CEO of Tricor, said: “We are delighted with the greatly enhanced presence that we have gained in China through RFDY. Shisong Mai, the founder of RFDY, and his management team have built an exceptional business in the mainland and Hong Kong. In 2018, RFDY supported the internationalisation of over 18,000 Chinese corporations. Combining RFDY’s capabilities with the resources of Tricor strengthens Tricor’s Asian footprint and supports our aim to become the premier partner for China’s globalisation activities, taking full advantage of economic expansion and initiatives like the Belt and Road and Greater Bay area.”
Shisong Mai, the founder of RFDY, said: “Tricor, as one of the fastest-growing players in the industry, shares our mission to help mainland Chinese companies expand their global presence by providing the most robust, integrated business solutions in the market. Joining Tricor represents a natural evolution of RFDY’s development beyond China and Hong Kong, and I look forward to working closely with the Tricor leadership team, as together we help drive the further globalisation of Chinese corporates.”
Lennard Yong continued: “This transaction marks Tricor’s 6th acquisition since the Permira Funds’ investment in the firm, and we continue to explore partnerships with businesses in the region that share our vision of helping firms across APAC pursue new opportunities.”
RFDY provides corporate and business services to Mainland Chinese corporates to support their outbound investment activities, including cross-border M&A transactions, overseas capital market transactions and other direct outbound investments, as well as entity incorporation and renewal, and accounting and company secretarial services. It also provides corporate and business services to Chinese entrepreneurs seeking administrative support for their family offices.
About Tricor Group
Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, and corporate trust & debt services. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 30,000 clients globally, a staff strength of over 2,400 and a network of offices in 40 cities across 21 countries / territories. Our client portfolio includes over 1,300 companies listed in Hong Kong, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.